The Board of Directors of the Central Bank of Iraq decided, on Wednesday, to establish the “National Company for Electronic Payment Systems in Iraq,” among other terms, that the company represents a qualitative development in the structure of the country’s financial infrastructure.
The board said in a statement, which NRT Arabia received, a copy of which, that the new company will be responsible for developing, operating and managing national electronic payment and clearing systems with high efficiency and adding new elements to serve the electronic payment environment.
He added that the role of the Central Bank of Iraq will revolve around the organization and supervision of these regulations, and that the implementation and development of the legal, executive and operational framework of the company will be initiated with the participation of all stakeholders, in accordance with the Bank’s law and the legislative frameworks in force.
It should be noted that this step comes in conjunction with the accelerated growth in electronic financial services and products and the high preparation of users in line with the framework of the government program to support and adopt advanced electronic payment systems.
